About Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Buyers & sellers often negotiate the payment of these costs.

As you'll see below, many of the buyer's costs cover the costs of getting the loan. Since BeneGroup, Inc. has extensive experience with mortgages and closings, we are closing cost experts.

The Loan Estimate (Also known as the LE)

Soon after you apply for a loan, we will give you a "Loan Estimate" of your closing costs. This closing cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always predict your closing costs to the penny. We explain Loan Estimates with buyers every day, so we'd be glad to answer any questions you have about closing costs.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At BeneGroup, Inc., we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Getting Your Credit Report
• Interest Payment
• Escrow Fees
• Various Taxes
• Costs associated with "originating" your loan

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Quake Insurance if applicable

BeneGroup, Inc. can answer questions about these closing costs. Give us a call at 4083956018.